Reward and Recognition: A Key Player in Your Retention Strategy
About This White Paper
In today’s competitive environment, employers face the challenge of finding and retaining skilled staff. Implementing a rewards and recognition program has become a requirement rather than “a nice to have” for an organization’s bottom-line. Research shows that in organizations where employees are recognized, the company’s average score for employee results – measuring employee engagement, employee productivity, and customer satisfaction – was approximately 14% higher than in organizations in which recognition does not occur.
When choosing an organization to work for, employees factor in the following:
- Whether they feel connected to the organization’s mission
- If they believe the role is a good physical and cognitive fit
- If they will fit in socially
In addition to these considerations, all employees have an innate need to be recognized for the work they do because it confirms that their work is valued by others. This is why they look for an organization that has a culture that believes in recognition and has an easy way to practice it.
Therefore, once organizations make that all-important hire, it’s critical to understand the factors that impact new hires so they become engaged with their work and organization, and more importantly stay engaged.
DOWNLOAD THIS WHITE PAPER TO LEARN:
- ROI and benefits of an engaged staff
- Specific types of rewards and recognition for employees
- How to get started with a rewards and recognition program
- Best practices for implementation